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Silver Market Analysis |
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Silver Market Analysis
For the latest market analysis see Silver Spread Betting Analysis.
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19 August 2011 update - Silver closed higher on Thursday as it extends the trading range of the past month. The high-range close set the stage for a steady-to-higher opening on Friday. Stochastics and the RSI are bullish signalling that sideways-to-higher prices are possible near-term. If it renews the rally off June's low, the 62% retracement level of the April-May-decline crossing is the next upside target. If it renews the decline off this month's high, the reaction low crossing is the next downside target.
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18 August 2011 update - Silver closed higher on Wednesday as it extends the trading range of the past month. The high-range close set the stage for a steady-to-higher opening on Thursday. Stochastics and the RSI are bullish signalling that sideways-to-higher prices are possible near-term. If it renews the rally off June's low, the 62% retracement level of the April-May-decline crossing is the next upside target. If it renews the decline off this month's high, the reaction low crossing is the next downside target.
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17 August 2011 update - Silver closed higher on Tuesday as it extends the trading range of the past seven days. The mid-range close set the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI are bullish signalling that sideways-to-higher prices are possible near-term. If it renews the rally off June's low, the 62% retracement level of the April-May-decline crossing is the next upside target. If it renews the decline off this month's high, the reaction low crossing is the next downside target.
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16 August 2011 update - Silver closed higher on Monday as it extends last week's trading range. The high-range close set the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI are turning bullish hinting that a low might be in or is near. If it renews the rally off June's low, the 62% retracement level of the April-May-decline crossing is the next upside target. If it renews the decline off this month's high, the reaction low crossing is the next downside target.
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15 August 2011 update - Silver posted an inside day with a higher close on Friday as it extends this week's trading range. The high-range close set the stage for a steady-to-higher opening on Monday. Stochastics and the RSI are turning bullish hinting that a low might be in or is near. If it renews the rally off June's low, the 62% retracement level of the April-May-decline crossing is the next upside target. If it extends the decline off last week's high, the reaction low crossing is the next downside target.
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12 August 2011 update - Silver closed lower on Thursday as it extends this week's trading range but remains below June's broken uptrend line. The mid-range close set the stage for a steady opening on Friday. Stochastics and the RSI are turning neutral hinting that a low might be in or is near. If it renews the rally off June's low, the 62% retracement level of the April-May-decline crossing is the next upside target. If it extends the decline off last week's high, the reaction low crossing is the next downside target.
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11 August 2011 update - Silver posted an inside day with a higher closed on Wednesday as it consolidated some of Tuesday's decline. The high-range close set the stage for a steady-to-higher opening on Thursday. Stochastics and the RSI are turning neutral hinting that a low might be in or is near. If it renews the rally off June's low, the 62% retracement level of the April-May-decline crossing is the next upside target. If it extends last week's decline, the reaction low crossing is the next downside target.
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10 August 2011 update - Silver closed lower on Tuesday extending the decline off last week's high. The low-range close set the stage for a steady-to-lower opening on Wednesday. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. If it extends last week's decline, the reaction low crossing is the next downside target. If September renews the rally off June's low, the 62% retracement level of the April-May-decline crossing is the next upside target.
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09 August 2011 update - Silver closed higher due to short covering on Monday as it consolidated some of last week's decline. The mid-range close set the stage for a steady opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. If it extends last week's decline, the reaction low crossing is the next downside target. If it renews the rally off June's low, the 62% retracement level of the April-May-decline crossing is the next upside target.
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08 August 2011 update - Silver closed lower on Friday following Thursday's key reversal down and closed below July's uptrend line crossing confirming that a top and short-term trend change has taken place. The low-range close set the stage for a steady-to-lower opening on Monday. Stochastics and the RSI are bearish signalling that sideways-to-lower prices are possible near-term. If it extends Friday's decline, the reaction low crossing is the next downside target. If it renews the rally off June's low, the 62% retracement level of the April-May-decline crossing is the next upside target.
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With financial spread betting you can lose more than your original stake or investment. Spread betting carries a high level of risk to your capital. Please familiarise yourself with the risks that are involved and before trading, ensure that financial spread betting matches your investment objectives. Seek independent advice where necessary.
Silver Market Analysis - edited by PipTrade, 19 August 2011.
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With spread betting you can lose more than your original stake or investment. Spread betting carries a high level of risk to your capital so please familiarise yourself with the risks that are involved and, before trading, ensure that spread betting matches your investment objectives. Seek independent advice where necessary.
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* Based on current UK tax law. Tax law may change and can differ depending on your personal circumstances.
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